2. Using a demand and supply diagram, explain how a rapid economic expansion in China and India may affect EACH of the f
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2. Using a demand and supply diagram, explain how a rapid economic expansion in China and India may affect EACH of the following dimensions of the market for oil, everything else remaining the same. (1) Demand (ii) Supply (iii) Quantity bought and sold Price [38 marks) 1 Analyze the likely effects of an increase in oil prices on the market for food. [12 marks) (b)